Curexo Inc. announced a private placement of 5,458,221 common shares at a price of KRW 7,420 per share for gross proceeds of KRW 40,499,999,820 on May 23, 2022. The transaction will include participation from new investor L&C Bio Co., Ltd. The company will issue common share via third party allocation increase. The transaction has been approved by the board of directors of the company.

The transaction is expected to close on June 30, 2022. All the securities issued under the transaction will subject to a lock-up period of one year.